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Coverage ratio

The coverage ratio shows you what our financial position is.

The coverage ratio is the relationship between PGB’s capital (assets) and the pensions we have to pay out. If the coverage ratio is 100%, then there is precisely enough money to pay all the pensions.  However, the government has prescribed that pension funds must have a buffer. A high coverage ratio is, therefore, important.


 


 

There are two coverage ratios
 

1. The current UFR coverage ratio
The coverage ratio is the relationship between PGB’s capital (assets) and the pensions we have to pay out. If the coverage ratio is 100%, then there is precisely enough money to pay all the pensions.  However, the government has prescribed that pension funds must have a buffer. A high coverage ratio is, therefore, important.

Movement in the UFR coverage ratio

Month

UFR coverage ratio

​October 2021
​113.3%
​September 2021
​112.9%
​August 2021
​112.7%
​July 2021
​110.9%
​June 2021
​​113.3%
​May 2021
​112.2%
​April 2021
​112.3%
​March 2021
​110.4%
​February 2021​107.2%
​January 2021
​103.6%
​December 2020
​102.5%
November 2020
108.8%
2. Policy coverage ratio
This is the average UFR coverage ratio over the last 12 months. Each year, on the basis of this coverage ratio, the board decides whether or not the pensions can be increased.

Movement in the policy coverage ratio

Month

Policy coverage ratio

​October 2021
​109.3%
​September 2021
​107.9%
​August 2021
​106.6%
​July 2021
​105.3%
​June 2021
​​103.9%
​May 2021
​102.3%
​April 2021
​100.8%
​March 2021
​99.1%
​February 2021​97.4%
​January 2021
​96.4%
​December 2020
​96.3%
November 2020
96.5%

 


 

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